Zimbabwe on the brink of collapse – again

November 7, 2017
| Report Focus News

Unemployment is at a staggering 90 per cent, the currency – or lack thereof – is a global laughing stock and any money that could be raised through tourism isn’t coming though.

Welcome to Zimbabwe: the country that’s about to collapse.

Zimbabwe’s financial ruin is a foregone conclusion for many of the world’s economists

A new currency experiment by the government, spearheaded by president Robert Mugabe, 93, is backfiring.

The country can’t pay for its borrowed electricity, a cash shortage has forced people to barter to survive, and it’s managed to drive away any foreign tourists otherwise willing to spend their money there.

And while a general election will be held next year, there seems little sign of change: Mugabe’s wife Grace, 52, revealed on the weekend her plan to succeed her ageing husband as the country’s first woman president.

But as Mugabe focuses on his party’s election victory, a cash shortage has sparked panic-buying as people struggle to find patrol and basic needs, and it echoes the economic crisis of 2009 that’s still a fresh nightmare to millions of people in the debt-ridden nation.


Zimbabwe’s currency dysfunction has long been the stuff of infamy.

The government scrapped the Zimbabwe dollar in 2009, after hyperinflation peaked at an eye-watering 500,000,000,000 per cent – wiping out people’s savings and destroying businesses. At that time, a loaf of bread was more than 100 trillion Zimbabwe dollars, or 40 US cents.